Since the January 3, 2024 price drop, the Dogecoin price has fallen below the moving average line.
The selling pressure has stopped above the current level of support at $0.073. Over the last two weeks, the bears were unable to maintain their bearish momentum at the $0.070 support level.
The cryptocurrency did fall to lows as low as $0.074 or $0.075 but then corrected higher. DOGE currently trades at $0.074, below the moving-average lines. If the current support level breaks, then the market will drop above $0.070. The altcoin currently trades at $0.079.
The price bars remained below moving average lines over the last week, but price action stopped above current support. Price bars are characterized as small, unreliable candlesticks called dojis. DOGE shows a bearish cross with the 21-day SMA below the 50 day SMA.
Key Resistance Levels - $0.12 & $0.14
Key Support Levels - $0.06 and $0.05
DOGE's 4-hour chart shows a sideways movement after the January 3 price drop. The altcoin's price is hovering between $0.076 - $0.086. Moving average lines have restricted the upside. DOGE is on a downward trend as it has been rejected at the SMA 21-day.
The DOGE/USD pair was predicted to fall even further, possibly as low as $0.070. The resistance at $0.087 was resisted by the moving average line.
Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as a endorsement by CryptoGuestPosts. Before investing in funds, readers should research the market.
Price of Polygon is on a downward trend, but it is now correcting up. CryptoGuestPosts provides a price analysis.
The rising correction ended on November 14, 2023, and the trend shifted to a sideways direction below the resistance level of $0.95.
Buyers tried pushing the cryptocurrency up to $95 resistance on January 11, 2024 but were rejected for the fourth consecutive time. Polygon is trading at $0.83 today. The altcoin has entered a zone of bearish trends, which makes an upward push very unlikely.
In the negative scenario, the market will continue falling and reach the next level of support around $0.75. Since November 21, 2023, the current support level of 0.75 hasn't been breached. The long candlestick tails also indicate significant buying at $0.75.
The price bars of Polygon are below the moving-average lines. This indicates that the altcoin has been rejected at its $0.95 high. Price bars that are below the moving-average will speed up the coin's decline. The moving average lines on the 4-hour chart are sloping down, which indicates a decline.
Resistance levels: $1.20 $1.30 $1.40
Support levels: $0.60, $0.40, $0.30
Polygon's price is dropping below the moving average line. According to price predictions, Polygon is expected to fall to 1.618 Fibonacci or a low of $0.76. According to the current price, the altcoin is down to a minimum of $0.83. The cryptocurrency will find a support level and rise above $0.75.
CryptoGuestPosts had reported a week earlier that MATIC experienced a significant decline to a low $0.73 on 3 January before recovering.
Disclaimer. This analysis and forecast is the author's personal opinion and not a recommendation for buying or selling cryptocurrency. It should not be seen as a endorsement by CryptoGuestPosts. Before investing in funds, readers should research the market.
